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Fabric Token

Fabric Token

The Fabric Token ecosystem aims to help people and businesses in adopting blockchain technology and its underlying smart contracts by providing a bridge between simple user interfaces and computer-understandable language.

Description

Blockchain technology, currently the underlying architecture of most cryptocurrencies, allows the automatic processing of online operations in a decentralized non-mediated manner via smart contracts. On the grand scale, smart contracts can easily and phenomenally improve the current efficiency of online relationships in terms of speed, security, and cost, while also reducing complexity. However, adopting blockchain technology and smart contracts is currently a challenging task due to several integral problems, namely comprehensibility, resource allocation, and smart contract development, among others. The solution proposed herein is the Fabric Token ecosystem, which will allow users and businesses to easily adopt blockchain technology and smart contracts and will consist of four main components. The first component we propose is the Fabric Token itself, which will be used as a functional utility to pay for products and services within the ecosystem. The second is TokenGen, a user-friendly platform used to generate smart contracts for the token economy. The third is DApp Workbench – an all-in-one solution for businesses looking to integrate blockchain technology and smart contracts into their business process management. The last component will be the Fabric Store, a decentralized marketplace for smart contract components, which will allow third-party developers to further expand the functionality scope of the Fabric Token ecosystem. We see Fabric Token and its associated technologies as a fundamental part of the future mainstream adoption of blockchain and smart contracts, ultimately allowing people of any means and any background to play their part in building a decentralized world.